VCA Antech Sees Same-Store Revenue Drop By 2.2% In Q1

Published: 2011.04.28 03:46 PM

VCA Antech Inc.’s animal division reported revenue of $269.9 million for its first quarter ended March 31, compared to revenue of $246.7 million in the year-ago period. The 9.4 percent increase was driven by acquisitions made in the past 12 months, said Bob Antin, chairman and CEO of the company.

VCA Antech’s same-store revenue declined by 2.2 percent while its same-store gross profit margin declined to 14.9 percent from 16.9 percent, according to Antin.
During the quarter, VCA Antech acquired two animal hospitals which had historical combined annual revenue of $4.8 million.

VCA Antech’s laboratory division reported revenue of $79.5 million for its first quarter, compared to revenue of $78.2 million in the year-ago period.

The medical technology division reported revenue of $19.1 million for its first quarter, compared to revenue of $15.8 million in the year-ago period.

Overall, the Los Angeles-based company reported net income of $30.5 million on revenue of $355.1 million for the first quarter, compared to net income of $32.9 million on revenue of $330.7 million in the year-ago period.

VCA Antech reaffirmed its fiscal year 2011 guidance: revenue from $1.47 billion to $1.51 billion and net income from $124.1 million to $132.8 million.